An industry charged up and ready for growth: EV Charging

Apr 2

Observations from the EV Charging Expo

Electric vehicles will become a more significant part of everyday life sooner than most people realize. Global economies and our fast-paced lives depend on the efficient transportation of goods and people. As we transition from internal combustion engines (ICE) to electric vehicles (EV), the ability to recharge easily wherever goods or people need to go will determine how effective EVs are.

Transaction processing, smart chargers, fleet route modeling, hardware and software integration, and domestic manufacturing are just a few of the hot topics we encountered at the Mirage Event Center while walking the packed aisles of the EV Charging Summit and Expo. Over 5,000 attendees attended the event to see exhibits from over 200 companies in the EV charging space. Here are a few of the insights that stood out to the team here at Sēd.

The competition is fierce.

Many companies are entering the rapidly growing EV charging market. Some are from unrelated industries, while others are born and focused on the EV space. Large brands like Ampure, specialized manufacturing companies like DC-America, and tech start-ups like EVectriFi Technologies Inc have entered the EV charging segment in recent years. It wouldn’t be a stretch to expect many more companies to join the mix as demand for EV charging grows. Differentiation will be the most challenging hill to climb for these companies and brands where the technology is paramount but also where tech on its own will not guarantee distinction from the competition. Communicating a brand story and the benefits of the innovative solutions it provides will be critical to success in this space, especially as leadership becomes more established in the category.

A focus on education

After speaking with many companies at the show, it was clear that there is an education gap that many of these companies are trying to fill for potential customers. You don’t know what you don’t know. No business wants to experience what recently happened at one of the biggest names in the rental car industry with their fleet of EVs. Partnering with specialized companies like PxT Infrastructure Solutions that can help navigate the process of adding EV charging hardware and software will be necessary for businesses wanting to add this capability. The unknowns about integrating EV charging into a business can be intimidating, and many companies want to help. Selecting the right firm to partner with will be a challenge for many companies, so creating customer-facing content that is equally engaging, educational, and differentiated is critical.

Flexibility and forecasting are table-stakes

We’re already seeing some examples of a leading plug-in charging solution from one brand being adopted by others. However, we know the technology used in EV charging will advance and evolve as more companies work to meet demand. Fast wireless charging will likely be one of the next innovations. However, until that technology becomes widespread, the standard plug-in method will be the most common. Commercial chargers that can adjust charge rates based on demand, time of day, wait times, etc., like those found in the SWTCH booth, will be important as demand grows. Temporary, portable, and rapidly deployable EV chargers will likely be in high demand for various industries like construction, agriculture, and entertainment. Making sure target markets know about the advanced technology and capabilities of the company will help make EV charging more accessible for businesses and individuals.

Tailored solutions

EV charging seems straightforward to the average person. You pull up, plug in, recharge, and go. However, there are a lot of elements that need analysis and planning to make EV charging efficient and cost-effective for any business. Walking this show highlighted some of the very unique and complex areas of EV charging that will require expert solutions. This is where specialized companies providing tailored solutions to specific business needs will help make EVs an impactful addition to an organization. Companies like Chargetrip, which provides fleet simulations, route modeling, turnkey UIs, and scalable systems for growing companies with the ability to service OEMs to commercial fleets, will be in high demand as more businesses transition to EVs.

Growth through business innovation

Businesses born in other industries are finding new opportunities for growth within EV charging. Taking the expertise and capabilities developed in different sectors and applying them to solve emerging challenges as EV charging demand increases creates new opportunities. Companies like DC-America provide complete above-ground EV charging solutions manufactured domestically that enable rapid and scalable charging capabilities for various commercial and government applications. These innovations are helping to facilitate the global transition from fossil fuels and grow new industries. Creating awareness and telling the story of these business innovations will build stronger relationships with new partner companies.

Room for diversity

A quick look around the room and the demographic composition of the exhibitors demonstrated that there still is plenty of room for females and POC in the field to come to the front. As in the broader technology space, EV has a challenge with females and diversity in leadership. In the future, we hope to see more diversity on the tradeshow floor and in the leadership composition of founders. That may be why we were immediately drawn to what we believe was the only presence of a pink booth in the room belonging to Lynkwell, which happened to be staffed by all women, including a female CMO. Just across the way, we also discovered EVectriFi Technologies Inc, which has a female founder of color at the helm. It was inspiring to see. We hope to see more as the category continues to thrive.

The need for differentiation

Overall, as a marketing communications agency focused on emerging categories and brands, we walked away from the event feeling that there is an incredible opportunity for many companies and brands in the category to elevate their branding, positioning, and storytelling as the category increases in interest and customers and consumers feel the need to double down on EV. Standing apart will only get more difficult as competition intensifies, and the availability of educational content will be critical for those customers and consumers new to the space.

If your company wants to strengthen its position and needs some help doing so, we have extensive experience in the sustainability, energy, and automotive space and would love the opportunity to speak with you.

Check out some of our work in the energy sector here.

Loretta Markevics